SEC Should Address Conflicts
In Rating Agencies, Sarbanes Says

By

Siobhan Hughes Dow Jones Newswires

Updated Feb. 8, 2005 6:19 p.m. ET

WASHINGTON -- Senator Paul S. Sarbanes, the top Democrat on the Senate Banking Committee, urged the Securities and Exchange Commission Tuesday to address conflicts of interest that exist in the credit-rating industry.

"I think the SEC needs to move in this area," Mr. Sarbanes (D., Md.) said during a Tuesday hearing at which the top three rating agencies testified. "I think there are some problems and they need to...